look out! BREAKING: Beer No Longer Recession-Proof

[ensho]

http://www.fivethirtyeight.com/2009/02/breaking-beer-no-longer-recession-proof.html


-snip-

But something was very, very different in the fourth quarter of 2008. Sales of alcohol for off-premises consumption were down by 9.3 percent from the previous quarter, according to the Commerce Department. This is absolutely unprecedented: the largest previous drop had been just 3.7 percent, between the third and fourth quarters of 1991.

-snip-

Nevertheless, it's absolutely startling to see a major consumer staple experience a sales decline like this.

It's not just beer, either. Sales of jewelry and watches were off by 7.2 percent in the fourth quarter, the third-largest drop ever recorded. Casino gambling receipts are down about 8.5 percent from a year ago, far and away the largest decrease ever over four consecutive quarters.
-snip-
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alcoholics will not be nice about this

[Oregone]

1. Too many people drinking above their means.

[Fire1]

4. lmao!!!

[Kittycat]

2. Poor Cindy. How will she fund her botox now.

[theoldman]

3. I think beer sales will go up when the weather gets hot.

Guess I will have to start doing my part to save a valuable industry.

[Lone_Star_Dem]

5. Perhaps they've simply bypassed expensive beers and switched to cheaper ones?

If I'm not mistaken this follows the overall sales in dollars not volume. I bet if they were to research how many gallons of beer were being sold it would be holding steady, or on the rise. It's just that people right now aren't drinking as much of the expensive imports, etc.

[taught_me_patience]

6. 12 pack of Miller lite at $12 - NOT WORTH IT

Raising prices in a depression is a stupid business move. A couple of years ago, as 12er was $9.99.